MARKETS FOR 16TH OCTOBER

AS EXPECTED NIFTY FUTURES COULD NOT CROSS THE CRITICAL 5720 TO 5725 LEVELS THAT SAW EVERY NOVICE TRADER EVEN INDULGING IN SHORTING THE MARKETS. NOW FOR TUESDAY IN CASE NIFTY FUTURE FAILS TO BREACH THE MAGIC LEVEL OF 5717 THEN SIMILAR MULTI BARREL SHORTING MAY BE DONE TO SEE BULLS BEING SHUNTED DOWN TOWARDS 5670 TO 5660 AND IN CASE NIFTY FUTURES FAILS TO HOLD 5656 MAGIC LEVELS THEN THE 2ND BOUT OF CARGO SHORTINGS BE INITIATED TO SEE MUCH LOWER LEVELS. HOWEVER IN CASE NIFTY FUTURES MANAGES TO BREACH THE MAGIC LEVEL OF 5717(OTHER THAN THE DECEPTIVE GAP UP LIKELY TO BE INITIATED DUE TO THE GOOD RESULTS OF KING RELIANCE) & IF NIFTY FUTURES MANAGES TO SUSTAIN ABOVE 5717 LEVELS THEN ONE CAN SEE BEARS JUMPING UP & DOWN & RELEASING & COVERING THEIR SHORTS AFTER EVERY JUMP OF 1 POINT IN NIFTY FUTURES ABOVE 5717.

FOR TUESDAY’S INTRADAY TRADING PURPOSE, NIFTY FUTURE FINDS INITIAL SUPPORT AROUND 5690 BELOW WHICH ONE MAY SEE A STONE LIKE FALL TOWARDS MONDAYS LOWS OF 5665 FUTURE LEVELS. FAILURE ON THE PART OF THE BULLS TO PREVENT 5665 FUTURE LEVEL BEING BREACHED WILL SEE THE BULLS RUNNING AWAY TOWARDS 5650 OR LOWER LEVELS THAT WILL SEND EARLY SIGNALS AS TO WHAT IS IN STORE FOR REST OF OCTOBER. SIMILARLY ON THE HIGHER SIDE, INCASE KING RELIANCE PUSH HELPS THE BULLS IN BREACHING & MORE IMPORTANTLY SUSTAINING ABOVE 5717 FUTURE LEVELS, THEN BY THE MERE STRENGTH OF SHORT COVERING NIFTY FUTURES MAY MOVE UP BY ANOTHER 50 POINTS TOWARDS 5760 TO 5770 LEVELS TO TARGET FOR LAST WEEKS HIGH OF 5770 FUTURE LEVELS. ON ITS HIGHER JOURNEY NIFTY FUTURES MAY FIND SUITABLE ENCLOSURES CREATED BY BEARS TO DELAY & TO ALLOW BULLS ENJOY DRINKS & SNACKS BREAKS AROUND 5722, 5735, 5749 & 5757 WHERE CLOSELY GUARDED BEARS MAY BE FOUND TO CHANGE THEIR DRESS TO GET CONVERTED INTO BULLS FOR FURTHER UP MOVE AT EACH OF THESE DELAYING POINTS.

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